Only a few years ago, for the foreign
business-person, establishing an office in Azerbaijan was an adventurous
task that you'd hear people bragging about in airport business lounges.
Nowadays a lot more is available regarding resources, but some of the adventure
factor is still there. In Baku - well, as in many other places - is not
so much what you know, but who you know, that matters.

There are three main ways a foreign investor
may establish a direct trading presence within Azerbaijan:

establishing a joint venture involving local
participation

creating an Azeri corporate entity that is
wholly foreign owned

establishing a branch/representative office
of a foreign legal entity

The latter form, considered as 'non-resident'
has a lot of legal restrictions to its activities. Notice also that foreign
investors may be required to deposit 15 to 25 per cent of their operating
capital into a 'reserve fund'.